Friends With Money #281: Mortgage myths and misconceptions
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From deposits and pre-approvals to offset accounts and paying off your loan, there's no shortage of misconceptions around mortgages.
On this episode of the Friends With Money podcast, Money's Tom Watson is joined by Jack Elliott, mortgage broker and national first home buyer specialist at Alcove and First Home Unlocked.
They bust some of the most common mortgage myths.
Episode timestamps
00:00 Introduction
01:48 Do you need a 20% deposit to buy a home?
06:38 Does mortgage pre-approval guarantee loan approval?
10:22 Is the lowest home loan rate always the best deal?
13:36 Are offset accounts always worth it?
17:29 Should you pay off your mortgage in full if you can?
19:31 Conclusion
Friends With Money podcast FAQ
What is the Friends With Money podcast?
Friends With Money is a weekly personal finance podcast by Money magazine, offering expert insights on investing, budgeting, superannuation, property, and other money strategies for everyday Australians.
Where can I listen to the podcast?
You can listen on Apple Podcasts, Spotify, or YouTube (with closed captions available).
Who hosts Friends With Money?
Episodes are hosted by Vanessa Walker and Tom Watson from Money magazine, featuring expert guests and real conversations about money.
Is the podcast suitable for beginners?
Yes! It's designed to be accessible for beginners while still offering valuable insights for seasoned investors.
What topics does the podcast cover?
The Friends With Money podcast covers topics including banking, property, budgeting, superannuation, investing, saving, insurance, employment, travel and more.
How often are new episodes released?
New episodes are released weekly, so you can stay up to date with the latest financial tips and trends.
Can I watch episodes with captions?
Yes, full episodes with closed captions are available on YouTube.
Why subscribe to the Friends With Money podcast?
Boost your financial literacy anytime, anywhere with the Friends With Money podcast from Money magazine. Whether you're commuting, working out, or relaxing at home, this weekly podcast makes it easy to grow your money knowledge on the go.
Each episode dives into real conversations about money - how it's earned, shared, saved, and grown - with tips and insights that make finance simple and relatable. Perfect for beginners and seasoned investors alike, it's your go-to guide for building better financial habits.
Subscribe to the Friends With Money podcast today and start learning when it suits you.
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